Amazon, Fiverr, Airbus: This Week's Top Trending Financial Tweets - Week 24
#7. Amazon’s credit builder
Amazon partners with Synchrony Financial to launch a credit card for people who might not have a good enough credit rating to get a card otherwise, CNBC reports.
The ‘Amazon Credit Builder’ allows users to build up credit, but also gives tools and tips to help people with their budgeting. Interesting feature: people eventually have the possibility to ‘graduate’ and get another Amazon Store card.
#6. Fiverr’s IPO
On Friday, freelance marketplace Fiverr went public. The company’s shares went up as much as 90% on their first day of trading on the New York Stock Exchange, TechCrunch reports.
Fiverr shares were priced at $21 per share for the IPO and the company raised around $111 million. They started trading at $26 and closed at $39.90 - up 90% from the IPO price, according to the same TechCrunch article.
#5. Next year’s oil supply
The International Energy Agency (IEA) expects the oil supply to be far bigger than the demand next year, Bloomberg reports.
The former thinks that the global demand for oil will increase to 1.4 million barrels a day in 2020, while the supply will grow to 2.3 million barrels a day (due to the continuous boom in US shale oil and new fields in Brazil, Norway and Canada), according to the same Bloomberg article.
This means that the world will need considerably less oil from the OPEC.
Next year looks pretty bad for OPEC and other big oil producers https://t.co/eXVEL3e80F— Bloomberg (@business) June 14, 2019
#4. Tanker attacks in Gulf of Oman
On Thursday, a Japanese and a Norwegian tanker seemed to have been attacked in the Gulf of Oman, BBC News reports. This created a rather tense situation in what already was an icy relationship between the US and Iran.
The former imposed heavy sanctions on the latter which resulted in Iran’s oil exports being down by more than a third. If it turns out Iran is behind the attacks, there is a real risk of military escalation, according to the same BBC News article.
Gulf of Oman tanker attacks: What could be Iran's motive? https://t.co/Dicd7T5aBi— BBC News (World) (@BBCWorld) June 14, 2019
#3. India cuts corn duty
As a result of the dry weather and a worm infestation in India, the country’s corn output has fallen while the demand has increased. The government, therefore, allowed two state-run companies to import tonnes of corn at 15% import tax, instead of the usual 60%, Reuters reports.
#2. Airbus warns about No-Deal Brexit
European Aeronautic Defence and Space Company Airbus told European countries to be prepared for a worst-case scenario when the new Brexit deadline of 31 October comes nearer, Bloomberg reports.
The company has always been one of the most outspoken ones when it comes to the risk of a no-deal scenario and stressed once more the importance of being ready for when push comes to shove.
Airbus is telling European countries to prepare for a worst-case scenario on Brexit https://t.co/K3uWvDe2oo— Bloomberg (@business) June 14, 2019
#1. Chipmakers & stock market momentum
The Philadelphia Semiconductor Index (aka the Sox) is falling which could be an indicator that the same thing is happening with the wider stock market momentum, the Financial Times reports.
One of the reasons for this decline is Broadcom’s full-year guidance cut that demonstrates how the ongoing trade war is affecting semiconductors, generally a good proxy for economic growth, according to the same Financial Times article.
Chipmakers are cause for broader concern https://t.co/P3V8PXVbex— Financial Times (@FT) June 14, 2019
And voila, the 24th week of 2019 all captured in Tweets. As always, we'll continue to track Twitter and bring you the top financial micro-messages from the web. See you back here next week.